Putin Authorizes Nordline LLC to Acquire 10% Stake in Arctic LNG 2 from TotalEnergies
En resumen
- Russian President Vladimir Putin has authorized Nordline LLC, a subsidiary of Novatek, to acquire a 10% stake in the Arctic LNG 2 project from France's TotalEnergies.
- The decree was posted on the legal information portal.
Resumen generado por IA
Por qué importa
Nordline LLC, a subsidiary of Novatek, has been authorized by Russian President Vladimir Putin to acquire a 10% stake in the Arctic LNG 2 project from France's TotalEnergies. The Arctic LNG 2 project is Novatek's second large-scale LNG production project after Yamal LNG. The project participants include Novatek, TotalEnergies, China's CNPC and CNOOC, and Japan Arctic LNG.
ST. PETERSBURG, June 3. /TASS/. Russian President Vladimir Putin signed a decree authorizing Nordline LLC to acquire 10% in the Arctic LNG 2 project from France’s TotalEnergies.
The document was posted on the legal information portal. Nordline is a subsidiary of Novatek, established in May of this year.
"To authorize Nordline Limited Liability Company to complete a transaction of acquiring 10 percent of the shares in the charter capital of the Arctic LNG 2 Limited Liability Company, owned by TotalEnergies EP Salmanov," the document states.
Arctic LNG 2 is the second large-scale project of Novatek for the production of liquefied natural gas after Yamal LNG. Project participants are Novatek (60%), TotalEnergies (10%), China’s CNPC (10%) and CNOOC (10%), as well as Japan Arctic LNG (10%, of which 25% owned by Mitsui and 75% by JOGMEC). The project provides for the construction of three process trains of liquefied natural gas with the capacity of 6.6 million metric tons per year.
On November 2, 2023, the U.S. Department of the Treasury included Arctic LNG 2 in its sanctions list.
Preguntas abiertas
- How will the U.S. sanctions affect the operationalization of this transaction?
- What are the specific terms of the acquisition between Nordline LLC and TotalEnergies?
- Will TotalEnergies face repercussions from the U.S. for this transaction?
- What is the future outlook for the Arctic LNG 2 project given the sanctions?
